Committee Approves bill to Improve MarAd

Friday, July 21, 2006

The Senate Committee on Commerce, Science, and Transportation has stated that it approved the Maritime Administration (MarAd) Improvement Act of 2006. Among other things, the bill, which will now go to the Senate floor for consideration, would allow the agency to retain certain fees that it collects. It would also provide an alternative approach for operators of Maritime Security Program product tankers to meet US-build replacement vessel requirements.
Source: HK Law